Sonnet BioTherapeutics (SONN) 10-K 17 Dec 21 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Sep. 30, 2021	Dec. 10, 2021	Mar. 31, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--09-30
Entity File Number	001-35570
Entity Registrant Name	SONNET BIOTHERAPEUTICS HOLDINGS, INC.
Entity Central Index Key	0001106838
Entity Tax Identification Number	20-2932652
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	100 Overlook Center
Entity Address, Address Line Two	Suite 102
Entity Address, City or Town	Princeton
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08540
City Area Code	(609)
Local Phone Number	375-2227
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	SONN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 45,018,698
Entity Common Stock, Shares Outstanding		60,250,637

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Sep. 30, 2020
Current assets:
Cash	$ 27,622,067	$ 7,349,903
Prepaid expenses and other current assets	1,189,474	287,738
Total current assets	28,811,541	7,637,641
Property and equipment, net	59,056	67,889
Operating lease right-of-use asset	123,213	205,919
Other assets		82,959
Total assets	28,993,810	7,994,408
Current liabilities:
Related-party notes	748	21,184
Accounts payable	3,781,299	2,057,559
Accrued expenses	2,310,410	2,063,678
Operating lease liability	94,520	82,060
Deferred income	516,374	500,000
Total current liabilities	6,703,351	4,724,481
Note payable		124,878
Operating lease liability	30,612	125,132
Total liabilities	6,733,963	4,974,491
Commitments and contingencies (note 8)
Stockholders’ equity:
Preferred stock; $0.0001 par value: 5,000,000 shares authorized. No shares issued or outstanding
Common stock; $0.0001 par value: 125,000,000 shares authorized; 60,250,637 and 14,724,105 issued and outstanding at September 30, 2021 and 2020, respectively	6,025	1,472
Additional paid-in capital	83,943,040	39,723,702
Accumulated deficit	(61,689,218)	(36,705,257)
Total stockholders’ equity	22,259,847	3,019,917
Total liabilities and stockholders’ equity	$ 28,993,810	$ 7,994,408

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Sep. 30, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	60,250,637	14,724,105
Common stock, shares outstanding	60,250,637	14,724,105

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Collaboration revenue	$ 483,626
Operating expenses:
Research and development	16,634,553	9,877,555
Acquired in-process research and development		6,826,495
General and administrative	8,936,509	7,533,722
Total operating expenses	25,571,062	24,237,772
Loss from operations	(25,087,436)	(24,237,772)
Interest income	15	20,677
Foreign exchange loss	(22,041)	(48,020)
Other income	125,501
Net loss	(24,983,961)	(24,265,115)
Deemed dividend arising from warrant amendment		(41,338,934)
Net loss attributable to common stockholders	$ (24,983,961)	$ (65,604,049)
Per share information:
Net loss per share, basic and diluted	$ (1.02)	$ (6.96)
Weighted average shares outstanding, basic and diluted	24,547,290	9,420,484

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Sep. 30, 2019	$ 555	$ 9,594,100	$ (12,440,142)	$ (2,845,487)
Beginning balance, shares at Sep. 30, 2019	5,547,643
Sale of common stock and warrants, net of issuance costs	$ 233	19,069,797		19,070,030
Sale of common stock, net of issuance costs. shares	2,338,435
Issuance of common stock to settle related-party notes	$ 1	199,999		200,000
Issuance of common stock to settle related-party notes, shares	8,526
Issuance of common stock to affect the Relief acquisition	$ 76	6,700,052		6,700,128
Issuance of common stock to affect the Relief acquisition, shares	757,933
Issuance of common stock and payment made in connection with Merger (note 3)	$ 55	(6,000,055)		(6,000,000)
Issuance of common stock and payment made in connection with Merger (Note 3), shares	547,639
Warrant exercises	$ 552	9,789,754		9,790,306
Warrant exercises, shares	5,523,929
Share-based compensation		370,055		370,055
Share-based compensation, shares
Net loss			(24,265,115)	(24,265,115)
Ending balance, value at Sep. 30, 2020	$ 1,472	39,723,702	(36,705,257)	3,019,917
Ending balance, shares at Sep. 30, 2020	14,724,105
Sale of common stock and warrants, net of issuance costs	$ 4,065	42,844,401		42,848,466
Sale of common stock, net of issuance costs. shares	40,647,723
Issuance of common stock on vesting of restricted stock units	$ 33	(33)
Issuance of common stock on vesting of restricted stock units,shares	326,920
Net share settlement of warrants	$ 453	(453)
Net share settlement of warrants, shares	4,528,026
Warrant exercises	$ 2			2
Warrant exercises, shares	23,863
Share-based compensation		1,375,423		1,375,423
Share-based compensation, shares
Net loss			(24,983,961)	(24,983,961)
Ending balance, value at Sep. 30, 2021	$ 6,025	$ 83,943,040	$ (61,689,218)	$ 22,259,847
Ending balance, shares at Sep. 30, 2021	60,250,637

Consolidated Statements Cash Fl

Consolidated Statements Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (24,983,961)	$ (24,265,115)
Adjustments to reconcile net loss to net cash used in operating activities:
Acquired in-process research and development		6,826,495
Depreciation	12,456	8,294
Amortization of operating lease right-of-use asset	82,706	50,019
Share-based compensation	1,375,423	370,055
Non-cash interest expense	623
Forgiveness of note payable	(125,501)
Change in operating assets and liabilities:
Prepaid expenses and other current assets	(901,736)	(254,326)
Other assets	82,959	(82,959)
Accounts payable	1,723,740	168,806
Accrued expenses and other liabilities	246,732	1,112,698
Operating lease liability	(82,060)	(48,746)
Deferred income	16,374	500,000
Net cash used in operating activities	(22,552,245)	(15,614,779)
Cash flows from investing activities:
Purchases of property and equipment	(3,623)	(76,183)
Net cash used in investing activities	(3,623)	(76,183)
Cash flows from financing activities:
Proceeds from issuance of common stock and warrants, net of issuance costs	42,848,466	19,070,030
Proceeds from the exercise of warrants, net of issuance costs	2	9,790,306
Payment to affect the Merger		(6,000,000)
Proceeds from the receipt of loan		124,878
Proceeds received from related-party notes		114,539
Repayments of related-party notes	(20,436)	(110,735)
Cash received in the Relief acquisition		16,194
Net cash provided by financing activities	42,828,032	23,005,212
Net increase in cash	20,272,164	7,314,250
Cash, beginning of year	7,349,903	35,653
Cash, end of year	27,622,067	7,349,903
Supplemental disclosure of non-cash investing and financing activities:
Issuance of common stock for Relief acquisition		6,700,128
Right of use asset and liability recorded upon adoption of ASC 842		255,938
Net settlement of warrants	453
Issuance of common stock to settle related-party notes		200,000
Issuance of common stock on vesting of restricted stock units	$ 33

Organization and description of

Organization and description of business	12 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and description of business	1. Organization and description of business Description of business Sonnet BioTherapeutics, Inc. (“Sonnet”) was incorporated as a New Jersey corporation on April 6, 2015. Sonnet is a clinical stage, oncology-focused biotechnology company with a proprietary platform for innovating biologic medicines of single- or bi-specific action. Known as FHAB™ (Fully Human Albumin Binding), the technology utilizes a fully human single chain antibody fragment (scFv) that binds to and “hitch-hikes” on human serum albumin (HSA) for transport to target tissues. Sonnet’s lead proprietary asset, SON-1010, is a fully human version of Interleukin 12 (“IL-12”), covalently linked to the F H H Merger with Chanticleer On April 1, 2020, Sonnet completed its merger (the “Merger”) with publicly-held Chanticleer Holdings, Inc. (“Chanticleer”) in accordance with the terms of the Plan of Merger dated October 10, 2019, as amended by Amendment No. 1 on February 7, 2020 (the “Merger Agreement”). Immediately prior to the Merger, Chanticleer spun-off its restaurant operations to a spin-off entity and no assets or liabilities of the restaurant business remained after the spin-off. After the Merger, Chanticleer changed its name to Sonnet BioTherapeutics Holdings, Inc. (“Sonnet Holdings” or the “Company”) and is focused on advancing Sonnet’s pipeline of oncology candidates and the strategic expansion of Sonnet’s technology platform into other human diseases. Under the terms of the Merger Agreement, the Company issued shares of common stock to Sonnet’s stockholders. Sonnet Holdings assumed all outstanding and unexercised Chanticleer warrants which were converted into warrants to purchase common stock of Sonnet Holdings. In addition, Sonnet paid Chanticleer $ 6.0 For accounting purposes, Sonnet is considered the acquiring company and the Merger has been accounted for as a reverse acquisition and recapitalization with Sonnet being treated as the accounting acquirer. As such, the financial information prior to the Merger relate solely to Sonnet. Subsequent to the Merger, the consolidated financial statements relate to the consolidated entities of the Company. See Note 3 for additional discussion of the Merger. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements Acquisition of Relief In August 2019, the Company executed a Share Exchange Agreement with Relief Therapeutics Holdings SA (“Relief Holdings”), to acquire the outstanding shares of Relief Therapeutics SA (“Relief”), a wholly owned subsidiary of Relief Holdings, in order to further develop Relief’s asset, atexakin alfa, together with its proprietary experimental drugs. The acquisition of Relief was completed on April 1, 2020. See Note 4 for further discussion of the acquisition. Global pandemic - Covid-19 On March 10, 2020, the World Health Organization characterized the novel COVID-19 virus as a global pandemic. There is significant uncertainty as to the likely effects of this disease which may, among other things, materially impact the Company’s planned clinical trials. This pandemic or outbreak could result in difficulty securing clinical trial site locations, clinical research organizations (“CROs”), and/or trial monitors and other critical vendors and consultants supporting the trial. In addition, outbreaks or the perception of an outbreak near a clinical trial site location could impact the Company’s ability to enroll patients. These situations, or others associated with Covid-19, could cause delays in the Company’s clinical trial plans and could increase expected costs, all of which could have a material adverse effect on the Company’s business and its financial condition. In particular, manufacturing of our pipeline products (other than SON-1010) has been delayed by COVID-19 related supply chain issues, specifically supply of raw materials, including media, resins, and analytical kits, compounded by international shipping delays. Although we do not have perfect visibility into a resolution of the supply chain issues, we anticipate delays of approximately one quarter to our programs for these products. Other than the foregoing, at the current time, the Company is unable to quantify the potential effects of this pandemic on its future operations. Liquidity The Company has incurred recurring losses and negative cash flows from operations activities since inception and it expects to generate losses from operations for the foreseeable future primarily due to research and development costs for its potential product candidates. The Company believes its cash of $ 27.6 In May 2021, the Company entered into a license agreement with New Life Therapeutics PTE, LTD. Under the terms of the agreement, the Company has received $ 1.0 20.0 The Company plans to secure additional capital in the future through equity or debt financings, partnerships, collaborations, or other sources to carry out the Company’s planned development activities. If additional capital is not available when required, the Company may need to delay or curtail its operations until such funding is received. Various internal and external factors will affect whether and when the Company’s product candidates become approved for marketing and successful commercialization. The regulatory approval and market acceptance of the Company’s products candidates, length of time and cost of developing and commercializing these product candidates and/or failure of them at any stage of the approval process will materially affect the Company’s financial condition and future operations. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements Operations since inception have consisted primarily of organizing the Company, securing financing, developing its technologies through performing research and development and conducting preclinical studies. The Company faces risks associated with companies whose products are in development. These risks include the need for additional financing to complete its research and development, achieving its research and development objectives, defending its intellectual property rights, recruiting and retaining skilled personnel, and dependence on key members of management.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies a. Basis of presentation The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Any reference in these notes to applicable guidance is meant to refer to U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) promulgated by the Financial Accounting Standards Board (“FASB”). b. Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. c. Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these consolidated financial statements include the accrual of research and development expenses. Estimates and assumptions are periodically reviewed in-light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from management’s estimates. d. Segment information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and assess performance. The Company views its operations and manages its business in one Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements e. Fair value of financial instruments Management believes that the carrying amounts of the Company’s financial instruments, including accounts payable, approximate fair value due to the short-term nature of those instruments. Due to the related-party relationships of the Company’s debt (Note 6), it is impractical to determine the fair value of the debt. f. Property and equipment Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets. Expenditures for repairs and maintenance that do not extend the estimated useful life or improve an asset are expensed as incurred. Upon retirement or sale, the cost and related accumulated depreciation and amortization of assets disposed of are removed from the accounts, and any resulting gain or loss is included in the consolidated statements of operations. g. Impairment of long-lived assets The Company reviews long-lived assets, such as property and equipment, for impairment whenever events or changes in circumstances indicated that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the undiscounted future cash flows expected to be generated by that asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, than an impairment charge is recognized for the amount by which the carrying value of the asset exceeds the estimated fair value of the asset. There were no h. Collaboration revenue Collaboration arrangements may contain multiple components, which may include (i) licenses; (ii) research and development activities; and (iii) the manufacturing and supply of certain materials. Payments pursuant to these arrangements may include non-refundable payments, upfront payments, milestone payments upon the achievement of significant regulatory and development events, sales milestones and royalties on product sales. The amount of variable consideration is constrained until it is probable that the revenue is not at a significant risk of reversal in a future period. In determining the appropriate amount of revenue to be recognized as the Company fulfills its obligations under a collaboration arrangement, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are capable of being distinct; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue as the Company satisfies each performance obligation. The Company applies significant judgment when evaluating whether contractual obligations represent distinct performance obligations, allocating transaction price to performance obligations within a contract, determining when performance obligations have been met, and assessing the recognition of variable consideration. When consideration is received prior to the Company completing its performance obligation under the terms of a contract, a contract liability is recorded as deferred income. Deferred income expected to be recognized as revenue within the twelve months following the balance sheet date is classified as a current liability. In May 2021, the Company entered into a License Agreement (the “New Life Agreement”) with New Life Therapeutics PTE, LTD (“New Life”). See Note 9 for further discussion of the New Life Agreement. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements i. Research and development expense Research and development expenses include all direct and indirect costs associated with the development of the Company’s biopharmaceutical products. These expenses include personnel costs, consulting fees, and payments to third parties for research, development, and manufacturing services. These costs are charged to expense as incurred. At the end of the reporting period, the Company compares payments made to third-party service providers to the estimated progress toward completion of the related project, based on the measure of progress as defined in the contract. Factors the Company considers in preparing the estimates include costs incurred by the service provider, milestones achieved, and other criteria related to the efforts of its service providers. Such estimates are subject to change as additional information becomes available. Depending on the timing of payment to the service providers and the progress that the Company estimates has been made as a result of the service provided, the Company will record a prepaid expense or accrued liability relating to these costs. Upfront milestone payments made to third parties who perform research and development services on the Company’s behalf are expensed as services are rendered. Contingent development or regulatory milestone payment are recognized upon the related resolution of such contingencies. j. Foreign currency Transaction gains and losses resulting from exchange rate changes on transactions denominated in currencies other than the U.S. dollar are included in operations in the period in which the transaction occurs and reported within the foreign exchange loss line item in the consolidated statements of operations. k. Share-based compensation The Company measures equity classified share-based awards granted to employees and nonemployees based on the estimated fair value on the date of grant and recognizes compensation expense of those awards over the requisite service period, which is the vesting period of the respective award. The Company accounts for forfeitures as they occur. For share-based awards with service-based vesting conditions, the Company recognizes compensation expense on a straight-line basis over the service period. The Company classifies share-based compensation expense in its consolidated statements of operations in the same manner in which the award recipient’s payroll costs are classified or in which the award recipient’s service payments are classified. l. Income taxes The Company uses the asset-and-liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company recognizes the benefit of an uncertain tax position that it has taken or expects to take on its income tax return if such a position is more likely than not to be sustained. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements m. Net loss per share Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during each period (and potential shares of common stock that are exercisable for little or no consideration). Included in basic weighted-average number of shares of common stock outstanding during the years ended September 30, 2021 and 2020 are the Series B warrants and certain warrants issued to the spin-off entity with exercise prices of $ 0.0001 0.01 The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding as they would be anti-dilutive: Schedule of Potentially Dilutive Securities September 30, September 30, 2021 2020 Common stock warrants 39,588,234 — Underwriter warrants 705,882 — Private warrants 105,812 105,812 Legacy Chanticleer warrants 17,760 20,180 Series C warrants 11,329,461 11,329,461 Unvested restricted stock 363,268 653,845 52,110,417 12,109,298 n. Recent accounting pronouncements In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options In December 2019, the FASB issued ASU 2019-12, Income Taxes Topic 740 - Simplifying the Accounting for Income Taxes Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements

Merger with Chanticleer

Merger with Chanticleer	12 Months Ended
	Sep. 30, 2021
Merger With Chanticleer
Merger with Chanticleer	3. Merger with Chanticleer As described in Note 1, Sonnet merged with Chanticleer on April 1, 2020. The Merger was accounted for as a reverse recapitalization with Sonnet as the accounting acquirer. Chanticleer had no assets, liabilities or operations at the time of the Merger. Legacy Chanticleer shareholders were issued 547,639 20,210 58.50 1,820.00 6.0 186,161 6.0

Relief Acquisition

Relief Acquisition	12 Months Ended
	Sep. 30, 2021
Relief Acquisition
Relief Acquisition	4. Relief Acquisition In August 2019, the Company executed a Share Exchange Agreement with Relief Holdings, in which the Company agreed to acquire the outstanding shares of Relief. The Company issued 757,933 For accounting purposes, the Company determined that the acquisition of Relief did not meet the definition of a business and was accounted for as an asset acquisition since substantially all of the fair value of the assets acquired was concentrated in a single identified intangible asset, its atexakin alfa. The acquisition consideration and assets acquired and liabilities assumed are as follows: Schedule of Assets and Liability Acquired Fair value of common stock issued: $ 6,700,128 Assets acquired: Cash $ 16,194 Prepaid expenses and other current assets 29,311 In-process research and development 6,826,495 Total assets acquired 6,872,000 Liabilities assumed: Accounts payable 45,757 Accrued expenses 126,115 Total liabilities assumed 171,872 Total net assets acquired $ 6,700,128 The Company expensed the acquired in-process research and development as of the acquisition date since further development and regulatory approval are required. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements

Accrued Expenses

Accrued Expenses	12 Months Ended
	Sep. 30, 2021
Accrued Expenses
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following: Schedule of Accrued Expenses 2021 2020 September 30, 2021 2020 Professional fees $ 286,688 $ 479,121 Compensation and benefits 989,315 1,065,398 Research and development 1,031,329 519,159 Other 3,078 — Accrued Expenses $ 2,310,410 $ 2,063,678

Debt

Debt	12 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	6. Debt Related-party notes During the year ended September 30, 2020, the Company issued unsecured notes payable to various related parties resulting in cash proceeds of $ 0.1 million . These notes are payable on demand and payments of $ 20,436 and $ 0.1 million were made during the years ended September 30, 2021 and 2020, respectively. The interest on these notes was de minimis during each of those years. In October 2019, the Company issued 8,526 0.2 PPP Loan On March 27, 2020, the U.S. Federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act includes a provision for a Paycheck Protection Program (“PPP”) administered by the U.S. Small Business Administration (“SBA”) and further amended by the Paycheck Protection Program Flexibility Act of 2020 (“PPP Flexibility Act”), which was enacted on June 5, 2020. In May 2020, the Company received a PPP Loan of $ 0.1 two-year term 1.0 Under the terms of the CARES Act, the Company could apply for and be granted forgiveness for all or a portion of the PPP Loan. Such forgiveness, if any, would be determined, subject to limitations, based on the use of loan proceeds for payroll costs, rent and utility costs and provided that only a portion of the use of proceeds are for non-payroll costs. The unforgiven portion of the PPP Loan could be repaid by the Company at any time prior to maturity with no prepayment penalty. The Company’s PPP Loan and the related interest were forgiven in full in June 2021, which is included in other income within the Company’s consolidated statement of operations. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements

Leases

Leases	12 Months Ended
	Sep. 30, 2021
Leases
Leases	7. Leases The Company adopted ASC 842 - Leases In December 2019, the Company entered a 36-month lease for office space in Princeton, New Jersey, which commenced February 1, 2020. At that time, the Company terminated its existing month-to-month leases for office space. The components of lease expense for the years ended September 30, 2021 and 2020 are as follows: Schedule of Lease Expenses Lease expense 2021 2020 Operating lease expense $ 102,156 $ 68,108 Short-term lease expense 12,935 57,756 Total lease cost $ 115,091 $ 125,864 At September 30, 2021, the weighted average remaining lease term was 1.33 12 2.3 12 Cash flow information related to operating leases for the years ended September 30, 2021 and 2020 is as follows: Schedule of Operating Lease Liabilities Cash paid for amounts included in the measurement of lease liabilities: 2021 2020 Operating cash flows from operating leases $ 101,516 $ 66,834 Future minimum lease payments under non-cancellable leases at September 30, 2021 are as follows: Schedule of Future Minimum Lease Payments Fiscal year 2022 $ 103,440 2023 34,695 Total undiscounted lease payments 138,135 Less: imputed interest (13,003 ) Total lease liabilities $ 125,132

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Legal proceedings From time to time, the Company is a party to various lawsuits, claims, and other legal proceedings that arise in the ordinary course of its business. While the outcomes of these matters are uncertain, management does not expect that the ultimate costs to resolve these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations, or cash flows. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements License agreements The Company has entered into a Discovery Collaboration Agreement (the “Collaboration Agreement”) with XOMA (US) LLC (“XOMA”), pursuant to which XOMA granted to the Company a non-exclusive, non-transferrable license and/or right to use certain materials, technologies and related information related to discovery, optimization and development of antibodies and related proteins and to develop and commercialize products thereunder. The Company is obligated to make contingent milestone payments to XOMA totaling $ 3.8 The Company has entered into a License Agreement (the “ARES License Agreement”) with Ares Trading, a wholly-owned subsidiary of Merck KGaA (“ARES”). Under the terms of the ARES License Agreement, ARES has granted the Company a sublicensable, exclusive, worldwide, royalty-bearing license on proprietary patents to research, develop, use and commercialize products using atexakin alfa (“Atexakin”), a low dose formulation of human interleukin-6 in peripheral neuropathies and vascular complications. Pursuant to the ARES License Agreement, the Company will pay ARES high single-digit royalties on net sales of products sold by the Company. Royalties are payable on a product-by-product and country-by-country basis until the later of (i) a specified period of time after the first commercial sale in such country, and (ii) the last date on which such product is covered by a valid claim in such country. Employment agreements The Company has entered into employment contracts with its officers and certain employees that provide for severance and continuation of benefits in the event of termination of employment either by the Company without cause or by the employee for good reason, both as defined in the contract. In addition, in the event of termination of employment following a change in control, as defined, either by the Company without cause or by the employee for good reason, any unvested portion of the employee’s initial stock option grant becomes immediately vested.

Collaboration Agreement

Collaboration Agreement	12 Months Ended
	Sep. 30, 2021
Collaboration Agreement
Collaboration Agreement	9. Collaboration Agreement Under the New Life Agreement, the Company granted New Life an exclusive license (with the right to sublicense) to develop and commercialize pharmaceutical preparations containing a specific recombinant human interleukin-6, SON-080 (the “Compound”) (such preparations, the “Products”) for the prevention, treatment or palliation of diabetic peripheral neuropathy in humans (the “DPN Field”) in Malaysia, Singapore, Indonesia, Thailand, Philippines, Vietnam, Brunei, Myanmar, Lao PDR and Cambodia (the “Exclusive Territory”). New Life may exercise the option to expand (1) the field of the exclusive license to include the prevention, treatment or palliation of chemotherapy-induced peripheral neuropathy in humans (the “CIPN Field”), which option is non-exclusive and will expire on December 31, 2021; and/or (2) the territorial scope of the license to include the People’s Republic of China, Hong Kong and/or India, which option is exclusive and will also expire on December 31, 2021. If these options are exercised, the terms of the CIPN Field and the territory expansion will be negotiated by the parties. The Company will retain all rights to manufacture Compounds and Products anywhere in the world. The Company and New Life shall enter into a follow-on supply agreement pursuant to which the Company shall supply to New Life Products for development and commercialization thereof in the DPN Field (and the CIPN Field, if applicable) in the Exclusive Territory on terms to be negotiated by the parties. The Company will also assist in transferring certain preclinical and clinical development know-how that is instrumental in New Life’s ability to benefit from the license. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements New Life will bear the cost of, and be responsible for, among other things, conducting clinical studies and additional non-clinical studies and other developmental and regulatory activities for and commercializing Products in the DPN Field (and the CIPN Field, if applicable) in the Exclusive Territory. New Life paid the Company a $ 0.5 0.5 New Life is also obligated to pay a non-refundable deferred license fee of an additional $ 1.0 19.0 12 30 The New Life Agreement will remain in effect on a Product-by-Product, country-by-country basis and will expire upon the expiration of the Royalty Term for the last-to-expire Product in the last-to-expire country, subject to (i) each party’s early termination rights including for material breach or insolvency or bankruptcy of the other party and (ii) the Company’s Buy Back Right and New Life’s Give Back Right (as defined). In addition, New Life granted to the Company an exclusive option to buy back the rights granted by the Company to New Life and the Company granted New Life the right to give back the rights with respect to Products in the DPN Field and/or the CIPN Field (if applicable) in one or more countries in the Exclusive Territory on terms to be agreed upon, which options will expire upon the initiation of a Phase III Trial for the applicable Product. Revenue recognition The Company first assessed the New Life Agreement under ASC 808, Collaborative Arrangements Revenue from Contracts with Customers The Company determined the initial transaction price of the single performance obligation to be $ 1.0 Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements Collaboration revenue from the single performance obligation is being recognized over the estimated performance of the R&D services. The Company recognized $ 0.5 1.0

Stockholders_ Equity

Stockholders’ Equity	12 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders’ Equity	10. Stockholders’ Equity Common stock In August 2021, the Company completed an underwritten public offering and received gross proceeds of $ 30.0 2.4 27.6 33,193,485 2,100,632 0.0001 0.85 0.85 0.85 0.8499 35,294,117 In connection with the offering, the Company granted the underwriters a 30-day overallotment option to purchase up to 5,294,117 5,294,117 4,294,117 0.85 0.01 In addition, warrants to purchase 705,882 1.0625 The Company entered into an At-the-Market Sales Agreement with BTIG on February 5, 2021 (the “Sales Agreement”). Pursuant to the Sales Agreement, the Company had the ability to offer and sell, from time to time, through BTIG, as sales agent and/or principal, shares of its common stock, having an aggregate offering price of up to $ 15,875,000 7,454,238 15.9 15.2 Also during the year ended September 30, 2021, the Company issued 326,920 Prior to the Merger, the Company sold 186,075 93,026 29.32 4.1 8,526 4,262 0.2 Upon consummation of the Merger, the Company issued 547,639 206,371 0.01 1,820 26.60 Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements In April 2020, the Company sold 1,699,232 15.0 3,300,066 5.3976 2,247,726 0.0001 453,128 The Company issued 757,933 Warrant amendments and exercises During the year ended September 30, 2021, the Series B warrant holders exercised 23,863 2 2,242,427 2,242,339 During the year ended September 30, 2021, the Chanticleer warrants to purchase 186,161 0.01 185,422 During the year ended September 30, 2021, the 2,100,632 2,100,265 In August 2020, the Company agreed to reduce the exercise price of the Series A warrants from $ 5.3976 3.19 In August 2020, the Series A warrant holders exercised all of the 3,300,066 9.8 11,329,461 3.19 October 16, 2025 In connection with the amendment to the Series A warrants, the Series B warrant agreements were modified such that they no longer provide for resets to the number of shares of common stock underlying the Series B warrants and the Series B warrant holders were issued an additional 2,284,800 0.0001 2,223,863 223 As a result of the warrant amendments that occurred in August 2020, the Company recognized a deemed dividend of $ 41.3 Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements Common stock warrants As of September 30, 2021, the following equity-classified warrants and related terms were outstanding: Schedule of Warrants Outstanding Warrants Outstanding Exercise Price Expiration Date Common stock warrants 39,588,234 $ 0.85 August 24, 2026 Underwriter warrants 705,882 $ 1.0625 August 19, 2026 Private warrants 105,812 $ 29.32 October 1, 2022 March 10, 2023 Chanticleer warrants 17,760 $ 58.50 91.00 April 30, 2027 December 17, 2028 Series B warrants 42,373 $ 0.0001 April 16, 2025 Series C warrants 11,329,461 $ 3.19 October 16, 2025 51,789,522

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	11. Share-Based Compensation In April 2020, the Company adopted the 2020 Omnibus Equity Incentive Plan (the “Plan”). The total number of shares authorized under the Plan as of September 30, 2021 was 650,686 Restricted stock units In July of 2020, 653,846 restricted stock units (“RSUs”) were granted, 50% of which vested on April 2, 2021 and the remaining 50% vest on April 2, 2022 an additional 47,000 The Company recorded share-based compensation expense associated with the RSUs in its accompanying consolidated statements of operations. Schedule of Share-based Compensation Expense Year Ended September 30, 2021 2020 Research and development $ 422,813 $ 105,694 General and administrative 952,610 264,361 $ 1,375,423 $ 370,055 Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements The following table summarizes RSU activity under the Plan: Schedule of Restricted Stock Units Activity RSU Weighted Average Grant Date Fair Value Unvested balance at September 30, 2019 — $ — Granted 653,845 3.63 Unvested balance at September 30, 2020 653,845 3.63 Granted 47,000 2.38 Vested (326,920 ) 3.63 Forfeited (10,657 ) 3.63 Unvested balance at September 30, 2021 363,268 $ 3.47 As of September 30, 2021, total unrecognized compensation expense relating to unvested RSUs granted was $ 0.7

Income Taxes

Income Taxes	12 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes As of September 30, 2021, the Company has $ 80.2 million, $ 80.2 million and $ 4.0 million of federal, state and foreign net operating losses, respectively. The federal and state net operating losses will begin to expire in 2030 and the foreign net operating losses begin to expire in 2027 . As of September 30, 2021, the Company has federal and state research and development tax credit carryforwards of $ 0.7 million and $ 0.5 million available to reduce future tax liabilities which will begin to expire in 2035 and 2030 , respectively. Realization of the deferred tax asset is contingent on future taxable income and based upon the level of historical losses, management has concluded that the deferred tax asset does not meet the more-likely-than-not threshold for realizability. Accordingly, a full valuation allowance continues to be recorded against the Company’s deferred tax assets as of September 30, 2021 and 2020. The valuation allowance increased $ 14.3 million during the year ended September 30, 2021 and $ 4.9 million during the year ended September 30, 2020. Due to the change in ownership provisions of the Internal Revenue Code, the availability of the Company’s net operating loss carryforwards may be subject to annual limitations, against taxable income in future periods, which could substantially limit the eventual utilization of such carryforwards. The Company has not analyzed the historical or potential impact of its equity financings on beneficial ownership and therefore no determination has been made whether the net operating loss carryforwards are subject to any Internal Revenue Code Section 382 limitation. To the extent there is a limitation, there would be a reduction in the deferred tax assets with an offsetting reduction in the valuation allowance. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely-than-not be realized. The determination as to whether the tax benefit will more-likely-than-not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. The Company recognizes interest and penalties accrued on any unrecognized tax benefits within the provision for income taxes in its consolidated statements of operations. No unrecognized tax benefits have been recorded. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements The tax effects of the temporary differences that gave rise to deferred taxes were as follows: Schedule of Deferred Tax Assets and Liabilities 2021 2020 As of September 30, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 21,398,036 $ 7,108,066 Research and development credit carryforward 1,263,451 1,263,451 Share-based compensation 146,192 104,023 Lease liability 26,570 58,242 Accruals and other 144,215 207,612 Property and equipment 3,039 — Gross deferred tax assets 22,981,503 8,741,394 Less: valuation allowance (22,946,868 ) (8,683,047 ) Net deferred tax assets 34,635 58,347 Deferred tax liabilities: Property and equipment — (463 ) Right-of-use asset (34,635 ) (57,884 ) Net deferred tax assets $ — $ — The Company recorded no income tax expense or benefit for the years ended September 30, 2021 and 2020. A reconciliation of income tax (expense) benefit at the statutory federal income tax rate and income taxes as reflected in the consolidated financial statements is as follows: Schedule of Effective Income Tax Rate Reconciliation Year Ended September 30, 2021 2020 U.S. federal statutory rate (21.0 )% (21.0 )% State taxes, net of federal benefit (6.6 ) (4.0 ) Change in valuation allowance 26.4 20.4 Research and development credit — (4.0 ) Permanent differences (0.1 ) 7.7 Foreign tax rate differential 0.7 0.5 Other 0.6 0.4 Effective income tax rate — % — %

Related-Party Transactions

Related-Party Transactions	12 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related-Party Transactions	13. Related-Party Transactions In fiscal 2021 and 2020, the Company entered into various debt agreements with several officers of the Company. The terms of the debt and related components are described in more detail in Note 6.

Subsequent Events

Subsequent Events	12 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events The Company has evaluated subsequent events from the balance sheet date through December 16, 2021, the date at which the consolidated financial statements were available to be issued.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of presentation	a. Basis of presentation The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Any reference in these notes to applicable guidance is meant to refer to U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) promulgated by the Financial Accounting Standards Board (“FASB”).
Consolidation	b. Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Use of estimates	c. Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these consolidated financial statements include the accrual of research and development expenses. Estimates and assumptions are periodically reviewed in-light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from management’s estimates.
Segment information	d. Segment information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and assess performance. The Company views its operations and manages its business in one Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements
Fair value of financial instruments	e. Fair value of financial instruments Management believes that the carrying amounts of the Company’s financial instruments, including accounts payable, approximate fair value due to the short-term nature of those instruments. Due to the related-party relationships of the Company’s debt (Note 6), it is impractical to determine the fair value of the debt.
Property and equipment	f. Property and equipment Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets. Expenditures for repairs and maintenance that do not extend the estimated useful life or improve an asset are expensed as incurred. Upon retirement or sale, the cost and related accumulated depreciation and amortization of assets disposed of are removed from the accounts, and any resulting gain or loss is included in the consolidated statements of operations.
Impairment of long-lived assets	g. Impairment of long-lived assets The Company reviews long-lived assets, such as property and equipment, for impairment whenever events or changes in circumstances indicated that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the undiscounted future cash flows expected to be generated by that asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, than an impairment charge is recognized for the amount by which the carrying value of the asset exceeds the estimated fair value of the asset. There were no
Collaboration revenue	h. Collaboration revenue Collaboration arrangements may contain multiple components, which may include (i) licenses; (ii) research and development activities; and (iii) the manufacturing and supply of certain materials. Payments pursuant to these arrangements may include non-refundable payments, upfront payments, milestone payments upon the achievement of significant regulatory and development events, sales milestones and royalties on product sales. The amount of variable consideration is constrained until it is probable that the revenue is not at a significant risk of reversal in a future period. In determining the appropriate amount of revenue to be recognized as the Company fulfills its obligations under a collaboration arrangement, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are capable of being distinct; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue as the Company satisfies each performance obligation. The Company applies significant judgment when evaluating whether contractual obligations represent distinct performance obligations, allocating transaction price to performance obligations within a contract, determining when performance obligations have been met, and assessing the recognition of variable consideration. When consideration is received prior to the Company completing its performance obligation under the terms of a contract, a contract liability is recorded as deferred income. Deferred income expected to be recognized as revenue within the twelve months following the balance sheet date is classified as a current liability. In May 2021, the Company entered into a License Agreement (the “New Life Agreement”) with New Life Therapeutics PTE, LTD (“New Life”). See Note 9 for further discussion of the New Life Agreement. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements
Research and development expense	i. Research and development expense Research and development expenses include all direct and indirect costs associated with the development of the Company’s biopharmaceutical products. These expenses include personnel costs, consulting fees, and payments to third parties for research, development, and manufacturing services. These costs are charged to expense as incurred. At the end of the reporting period, the Company compares payments made to third-party service providers to the estimated progress toward completion of the related project, based on the measure of progress as defined in the contract. Factors the Company considers in preparing the estimates include costs incurred by the service provider, milestones achieved, and other criteria related to the efforts of its service providers. Such estimates are subject to change as additional information becomes available. Depending on the timing of payment to the service providers and the progress that the Company estimates has been made as a result of the service provided, the Company will record a prepaid expense or accrued liability relating to these costs. Upfront milestone payments made to third parties who perform research and development services on the Company’s behalf are expensed as services are rendered. Contingent development or regulatory milestone payment are recognized upon the related resolution of such contingencies.
Foreign currency	j. Foreign currency Transaction gains and losses resulting from exchange rate changes on transactions denominated in currencies other than the U.S. dollar are included in operations in the period in which the transaction occurs and reported within the foreign exchange loss line item in the consolidated statements of operations.
Share-based compensation	k. Share-based compensation The Company measures equity classified share-based awards granted to employees and nonemployees based on the estimated fair value on the date of grant and recognizes compensation expense of those awards over the requisite service period, which is the vesting period of the respective award. The Company accounts for forfeitures as they occur. For share-based awards with service-based vesting conditions, the Company recognizes compensation expense on a straight-line basis over the service period. The Company classifies share-based compensation expense in its consolidated statements of operations in the same manner in which the award recipient’s payroll costs are classified or in which the award recipient’s service payments are classified.
Income taxes	l. Income taxes The Company uses the asset-and-liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company recognizes the benefit of an uncertain tax position that it has taken or expects to take on its income tax return if such a position is more likely than not to be sustained. Sonnet BioTherapeutics Holdings, Inc. Notes to Consolidated Financial Statements
Net loss per share	m. Net loss per share Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during each period (and potential shares of common stock that are exercisable for little or no consideration). Included in basic weighted-average number of shares of common stock outstanding during the years ended September 30, 2021 and 2020 are the Series B warrants and certain warrants issued to the spin-off entity with exercise prices of $ 0.0001 0.01 The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding as they would be anti-dilutive: Schedule of Potentially Dilutive Securities September 30, September 30, 2021 2020 Common stock warrants 39,588,234 — Underwriter warrants 705,882 — Private warrants 105,812 105,812 Legacy Chanticleer warrants 17,760 20,180 Series C warrants 11,329,461 11,329,461 Unvested restricted stock 363,268 653,845 52,110,417 12,109,298
Recent accounting pronouncements	n. Recent accounting pronouncements In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options In December 2019, the FASB issued ASU 2019-12, Income Taxes Topic 740 - Simplifying the Accounting for Income Taxes

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Potentially Dilutive Securities	The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding as they would be anti-dilutive: Schedule of Potentially Dilutive Securities September 30, September 30, 2021 2020 Common stock warrants 39,588,234 — Underwriter warrants 705,882 — Private warrants 105,812 105,812 Legacy Chanticleer warrants 17,760 20,180 Series C warrants 11,329,461 11,329,461 Unvested restricted stock 363,268 653,845 52,110,417 12,109,298

Relief Acquisition (Tables)

Relief Acquisition (Tables)	12 Months Ended
	Sep. 30, 2021
Relief Acquisition
Schedule of Assets and Liability Acquired	The acquisition consideration and assets acquired and liabilities assumed are as follows: Schedule of Assets and Liability Acquired Fair value of common stock issued: $ 6,700,128 Assets acquired: Cash $ 16,194 Prepaid expenses and other current assets 29,311 In-process research and development 6,826,495 Total assets acquired 6,872,000 Liabilities assumed: Accounts payable 45,757 Accrued expenses 126,115 Total liabilities assumed 171,872 Total net assets acquired $ 6,700,128

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Sep. 30, 2021
Accrued Expenses
Schedule of Accrued Expenses	Accrued expenses consisted of the following: Schedule of Accrued Expenses 2021 2020 September 30, 2021 2020 Professional fees $ 286,688 $ 479,121 Compensation and benefits 989,315 1,065,398 Research and development 1,031,329 519,159 Other 3,078 — Accrued Expenses $ 2,310,410 $ 2,063,678

Leases (Tables)

Leases (Tables)	12 Months Ended
	Sep. 30, 2021
Leases
Schedule of Lease Expenses	The components of lease expense for the years ended September 30, 2021 and 2020 are as follows: Schedule of Lease Expenses Lease expense 2021 2020 Operating lease expense $ 102,156 $ 68,108 Short-term lease expense 12,935 57,756 Total lease cost $ 115,091 $ 125,864
Schedule of Operating Lease Liabilities	Cash flow information related to operating leases for the years ended September 30, 2021 and 2020 is as follows: Schedule of Operating Lease Liabilities Cash paid for amounts included in the measurement of lease liabilities: 2021 2020 Operating cash flows from operating leases $ 101,516 $ 66,834
Schedule of Future Minimum Lease Payments	Future minimum lease payments under non-cancellable leases at September 30, 2021 are as follows: Schedule of Future Minimum Lease Payments Fiscal year 2022 $ 103,440 2023 34,695 Total undiscounted lease payments 138,135 Less: imputed interest (13,003 ) Total lease liabilities $ 125,132

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	12 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Warrants Outstanding	As of September 30, 2021, the following equity-classified warrants and related terms were outstanding: Schedule of Warrants Outstanding Warrants Outstanding Exercise Price Expiration Date Common stock warrants 39,588,234 $ 0.85 August 24, 2026 Underwriter warrants 705,882 $ 1.0625 August 19, 2026 Private warrants 105,812 $ 29.32 October 1, 2022 March 10, 2023 Chanticleer warrants 17,760 $ 58.50 91.00 April 30, 2027 December 17, 2028 Series B warrants 42,373 $ 0.0001 April 16, 2025 Series C warrants 11,329,461 $ 3.19 October 16, 2025 51,789,522

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	The Company recorded share-based compensation expense associated with the RSUs in its accompanying consolidated statements of operations. Schedule of Share-based Compensation Expense Year Ended September 30, 2021 2020 Research and development $ 422,813 $ 105,694 General and administrative 952,610 264,361 $ 1,375,423 $ 370,055
Schedule of Restricted Stock Units Activity	The following table summarizes RSU activity under the Plan: Schedule of Restricted Stock Units Activity RSU Weighted Average Grant Date Fair Value Unvested balance at September 30, 2019 — $ — Granted 653,845 3.63 Unvested balance at September 30, 2020 653,845 3.63 Granted 47,000 2.38 Vested (326,920 ) 3.63 Forfeited (10,657 ) 3.63 Unvested balance at September 30, 2021 363,268 $ 3.47

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities	The tax effects of the temporary differences that gave rise to deferred taxes were as follows: Schedule of Deferred Tax Assets and Liabilities 2021 2020 As of September 30, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 21,398,036 $ 7,108,066 Research and development credit carryforward 1,263,451 1,263,451 Share-based compensation 146,192 104,023 Lease liability 26,570 58,242 Accruals and other 144,215 207,612 Property and equipment 3,039 — Gross deferred tax assets 22,981,503 8,741,394 Less: valuation allowance (22,946,868 ) (8,683,047 ) Net deferred tax assets 34,635 58,347 Deferred tax liabilities: Property and equipment — (463 ) Right-of-use asset (34,635 ) (57,884 ) Net deferred tax assets $ — $ —
Schedule of Effective Income Tax Rate Reconciliation	The Company recorded no income tax expense or benefit for the years ended September 30, 2021 and 2020. A reconciliation of income tax (expense) benefit at the statutory federal income tax rate and income taxes as reflected in the consolidated financial statements is as follows: Schedule of Effective Income Tax Rate Reconciliation Year Ended September 30, 2021 2020 U.S. federal statutory rate (21.0 )% (21.0 )% State taxes, net of federal benefit (6.6 ) (4.0 ) Change in valuation allowance 26.4 20.4 Research and development credit — (4.0 ) Permanent differences (0.1 ) 7.7 Foreign tax rate differential 0.7 0.5 Other 0.6 0.4 Effective income tax rate — % — %

Organization and description _2

Organization and description of business (Details Narrative) - USD ($)	1 Months Ended
	May 31, 2021	Sep. 30, 2021	Sep. 30, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Cash		$ 27,622,067	$ 7,349,903
Merger Agreement [Member] | Spin Off Entity [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payment made for spin-off transaction		$ 6,000,000
License Agreement [Member] | New Life Therapeutics PTE LTD [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from license fees	$ 1,000,000
License Agreement [Member] | New Life Therapeutics PTE LTD [Member] | Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Future milestone payments	$ 20,000,000

Schedule of Potentially Dilutiv

Schedule of Potentially Dilutive Securities (Details) - shares	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	52,110,417	12,109,298
Common Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	39,588,234
Underwriter Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	705,882
Private Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	105,812	105,812
Legacy Chanticleer Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	17,760	20,180
Series C Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	11,329,461	11,329,461
Unvested Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	363,268	653,845

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative)	12 Months Ended
	Sep. 30, 2021USD ($)Integer$ / shares	Sep. 30, 2020USD ($)$ / shares
Number of operating segment | Integer	1
Impairment of long-lived assets | $	$ 0	$ 0
Series B Warrant [Member]
Basic weighted-average number of shares exercise price | $ / shares	$ 0.0001	$ 0.01

Merger with Chanticleer (Detail

Merger with Chanticleer (Details Narrative) - USD ($) $ / shares in Units, $ in Millions	Apr. 02, 2021	Aug. 31, 2021	Aug. 31, 2019	Sep. 30, 2021	Sep. 30, 2020
Number of common stock issued		757,933	757,933
Number of warrant issued				705,882
Warrant exercise price per share				$ 0.85
Spin Off Entity [Member]
Decrease in additional paid-in capital	$ 6
Common Stock [Member]
Number of common stock issued				40,647,723	2,338,435
Warrant exercise price per share		$ 0.85
Chanticleer Holdings Inc [Member]
Number of warrant issued	20,210
Business acquisition, consideration transferred	$ 6
Issuance of warrants	186,161
Chanticleer Holdings Inc [Member] | Minimum [Member]
Warrant exercise price per share	$ 58.50
Chanticleer Holdings Inc [Member] | Maximum [Member]
Warrant exercise price per share	$ 1,820
Chanticleer Holdings Inc [Member] | Common Stock [Member]
Number of common stock issued	547,639

Schedule of Assets and Liabilit

Schedule of Assets and Liability Acquired (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Fair value of common stock issued:		$ 6,700,128
Relief Holdings [Member]
Restructuring Cost and Reserve [Line Items]
Fair value of common stock issued:	$ 6,700,128
Cash	16,194
Prepaid expenses and other current assets	29,311
In-process research and development	6,826,495
Total assets acquired	6,872,000
Accounts payable	45,757
Accrued expenses	126,115
Total liabilities assumed	171,872
Total net assets acquired	$ 6,700,128

Relief Acquisition (Details Nar

Relief Acquisition (Details Narrative) - shares	1 Months Ended
	Aug. 31, 2021	Aug. 31, 2019
Relief Acquisition
Number of common stock issued	757,933	757,933

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Details) - USD ($)	Sep. 30, 2021	Sep. 30, 2020
Accrued Expenses
Professional fees	$ 286,688	$ 479,121
Compensation and benefits	989,315	1,065,398
Research and development	1,031,329	519,159
Other	3,078
Accrued Expenses	$ 2,310,410	$ 2,063,678

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)	1 Months Ended		12 Months Ended
	May 31, 2020	Oct. 30, 2019	Sep. 30, 2021	Sep. 30, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Issuance of Unsecured Debt				$ 100,000
Repayments of Unsecured Debt			$ 20,436	100,000
Issuance of common stock to settle related-party notes, shares		8,526
Issuance of common stock to settle related-party notes		$ 200,000		$ 200,000
Paycheck Protection Program [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Loans Payable	$ 100,000
Debt Instrument, Description	two-year term
Debt instrument, interest rate	1.00%

Schedule of Lease Expenses (Det

Schedule of Lease Expenses (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases
Operating lease expense	$ 102,156	$ 68,108
Short-term lease expense	12,935	57,756
Total lease cost	$ 115,091	$ 125,864

Schedule of Operating Lease Lia

Schedule of Operating Lease Liabilities (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases
Operating cash flow from operating lease	$ 101,516	$ 66,834

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments (Details)	Sep. 30, 2021USD ($)
Leases
2022	$ 103,440
2023	34,695
Total undiscounted lease payments	138,135
Less: imputed interest	(13,003)
Total lease liabilities	$ 125,132

Leases (Details Narrative)

Leases (Details Narrative)	Sep. 30, 2021	Sep. 30, 2020
Leases
Weighted-average remaining lease term	1 year 3 months 29 days	2 years 3 months 18 days
Weighted average discount rate	12.00%	12.00%

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) $ in Millions	12 Months Ended
	Sep. 30, 2021USD ($)
Discovery Collaboration Agreements [Member] | XOMA [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments	$ 3.8

Collaboration Agreement (Detail

Collaboration Agreement (Details Narrative) - USD ($) $ in Millions	Aug. 31, 2021	Jun. 30, 2021	Sep. 30, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement, rights and obligations			New Life is also obligated to pay a non-refundable deferred license fee of an additional $1.0 million at the time of the satisfaction of certain milestones, as well as potential additional milestone payments to the Company of up to $19.0 million subject to the achievement of certain development and commercialization milestones. In addition, during the Royalty Term (as defined below), New Life is obligated to pay the Company tiered double digit royalties ranging from 12% to 30% based on annual net sales of Products in the Exclusive Territory. The “Royalty Term” means, on a Product-by-Product and a country-by-country basis in the Exclusive Territory, the period commencing on the date of the first commercial sale (subject to certain conditions) of such Product in such country in the Exclusive Territory and continuing until New Life ceases commercialization of such Product in the DPN Field (or CIPN Field, if applicable).
Performance obligation			$ 1
Revenue recognized			0.5
Revenue recognized transaction price			1
License Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds for negotiate license agreement	$ 0.5
New Life Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds for negotiate license agreement			$ 0.5
Future milestone payments		$ 1
Milestone payments		$ 19
New Life Agreement [Member] | Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalties, percentage			12.00%
New Life Agreement [Member] | Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalties, percentage			30.00%

Schedule of Warrants Outstandin

Schedule of Warrants Outstanding (Details)	12 Months Ended
	Sep. 30, 2021$ / sharesshares
Common Stock Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	39,588,234
Exercise price | $ / shares	$ 0.85
Expiration date	Aug. 24, 2026
Unwriter Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	705,882
Exercise price | $ / shares	$ 1.0625
Expiration date	Aug. 19, 2026
Private Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	105,812
Exercise price | $ / shares	$ 29.32
Warrant [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	51,789,522
Warrant [Member] | Private Warrants [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Expiration date	Oct. 1, 2022
Warrant [Member] | Private Warrants [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Expiration date	Mar. 10, 2023
Warrant [Member] | Chanticleer Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	17,760
Exercise price, lower limit | $ / shares	$ 58.50
Exercise price, upper limit | $ / shares	$ 91
Warrant [Member] | Chanticleer Warrants [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Expiration date	Apr. 30, 2027
Warrant [Member] | Chanticleer Warrants [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Expiration date	Dec. 17, 2028
Warrant [Member] | Series B Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	42,373
Exercise price | $ / shares	$ 0.0001
Expiration date	Apr. 16, 2025
Warrant [Member] | Series C Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	11,329,461
Exercise price | $ / shares	$ 3.19
Expiration date	Oct. 16, 2025

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($)	Feb. 05, 2021	Aug. 31, 2021	Aug. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Aug. 31, 2019	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share							$ 0.85
Number of purchase warrant							705,882
Number of shares issued		757,933				757,933
Proceeds from exercise of warrants							$ 2	$ 9,790,306
Deemed dividend		$ 41,300,000
Chanticleer Shareholders [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share							$ 26.60
Restricted Stock Units (RSUs) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issued upon vesting							326,920
Pre Funded Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued							2,100,632
Sales Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross proceeds from sale agreement							$ 15,900,000
Net proceeds from common stock							$ 15,200,000
Sale of stock, shares							7,454,238
Maximum [Member] | Chanticleer Shareholders [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share							$ 1,820
Number of shares issued							206,371
Maximum [Member] | Sales Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross proceeds from sale agreement	$ 15,875,000
Minimum [Member] | Chanticleer Shareholders [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share							$ 0.01
Number of shares issued							547,639
Private Placement [Member] | Advisor [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued					453,128
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross proceeds from sale agreement		30,000,000
Issuance expenses		2,400,000
Net proceeds from common stock		$ 27,600,000
Shares issued of pre funded warrants		2,100,632
Warrant exercise price per share		$ 1.0625
Sale of common stock		0.01
Warrant [Member] | Over-Allotment Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share issued price per share		$ 0.0001
Common Stock and Pre-Funded [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, shares		33,193,485
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share issued price per share		$ 0.85
Warrant exercise price per share		$ 0.85
Number of shares issued							40,647,723	2,338,435
Common Stock [Member] | Promissory Notes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, shares							186,075
Warrant exercise price per share							$ 29.32
Issuance of common stock warrants							93,026
Net proceeds from warrants							$ 4,100,000
Number of shares issued							8,526
Debt conversion of common stock shares							4,262
Debt instrument face amount							$ 200,000
Common Stock [Member] | Over-Allotment Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of additional warrants		4,294,117
Common Stock [Member] | Over-Allotment Option [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock warrants		5,294,117
Common Stock [Member] | IPO [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued							2,100,265
Pre-Funded Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share		$ 0.85
Warrant purchase prefuned offering price		$ 0.8499
Common Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock warrants		35,294,117
Common Warrants [Member] | Over-Allotment Option [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock warrants		5,294,117
Series B Warrant [Member] | Investors [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of warrants					2,247,726
Series B Warrant [Member] | Private Placement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net proceeds from common stock					$ 15,000,000
Sale of stock, shares					1,699,232
Warrant exercise price per share					$ 0.0001
Series A Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants exercised			3,300,066
Proceeds from exercise of warrants			$ 9,800,000
Series A Warrant [Member] | Investors [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share					$ 5.3976
Issuance of warrants					3,300,066
Series A Warrant [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share			$ 5.3976
Series A Warrant [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share			3.19
Series A Warrant [Member] | Private Placement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share					$ 0.0001
Series B Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share							$ 0.0001
Number of purchase warrant							2,284,800
Number of shares issued							2,242,339
Warrants exercised				2,223,863			23,863
Proceeds from exercise of warrants				$ 223			$ 2
Net share settled							2,242,427
Chanticleer Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share							$ 0.01
Number of purchase warrant							186,161
Number of shares issued							185,422
Series C Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price per share			$ 3.19
Number of purchase warrant			11,329,461
Warrants expiration date			Oct. 16, 2025

Schedule of Share-based Compens

Schedule of Share-based Compensation Expense (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 1,375,423	$ 370,055
Restricted Stock Units (RSUs) [Member] | Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	422,813	105,694
Restricted Stock Units (RSUs) [Member] | General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 952,610	$ 264,361

Schedule of Restricted Stock Un

Schedule of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU Unvested beginning balance	653,845
Weighted Average Grant Date Fair Value Unvested beginning balance	$ 3.63
RSU Granted	47,000	653,845
Weighted Average Grant Date Fair Value, Granted	$ 2.38	$ 3.63
RSU Vested	(326,920)
Weighted Average Grant Date Fair Value, Vested	$ 3.63
RSU Forfeited	(10,657)
Weighted Average Grant Date Fair Value, Forfeited	$ 3.63
RSU Unvested ending balance	363,268	653,845
Weighted Average Grant Date Fair Value Unvested ending balance	$ 3.47	$ 3.63

Share-Based Compensation (Detai

Share-Based Compensation (Details Narrative) - USD ($) $ in Millions	1 Months Ended
	Mar. 31, 2021	Jul. 31, 2020	Sep. 30, 2021	Apr. 30, 2020
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense			$ 0.7
2020 Omnibus Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized				650,686
2020 Omnibus Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units and vesting rights, description	an additional 47,000 RSUs were granted, 50% of which vest on March 25, 2022 and the remaining 50% vest on March 25, 2023	In July of 2020,
Stock issued during the period, restricted stock units		653,846
Additional restricted stock units	47,000

Schedule of Deferred Tax Assets

Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 21,398,036	$ 7,108,066
Research and development credit carryforward	1,263,451	1,263,451
Share-based compensation	146,192	104,023
Lease liability	26,570	58,242
Accruals and other	144,215	207,612
Property and equipment	3,039
Gross deferred tax assets	22,981,503	8,741,394
Less: valuation allowance	(22,946,868)	(8,683,047)
Net deferred tax assets	34,635	58,347
Property and equipment		(463)
Right-of-use asset	(34,635)	(57,884)
Net deferred tax assets

Schedule of Effective Income Ta

Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	(21.00%)	(21.00%)
State taxes, net of federal benefit	(6.60%)	(4.00%)
Change in valuation allowance	26.40%	20.40%
Research and development credit		(4.00%)
Permanent differences	(0.10%)	7.70%
Foreign tax rate differential	0.70%	0.50%
Other	0.60%	0.40%
Effective income tax rate

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Tax Credit Carryforwards, Research	$ 1,263,451	$ 1,263,451
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	14,300,000	$ 4,900,000
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 80,200,000
Operating loss carryforwards expiration period	2030
Deferred Tax Assets, Tax Credit Carryforwards, Research	$ 700,000
Tax Credit Carryforward, Description	2030
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 80,200,000
Deferred Tax Assets, Tax Credit Carryforwards, Research	500,000
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 4,000,000
Operating loss carryforwards expiration period	2027
Tax Credit Carryforward, Description	2035